Metro Vancouver gas prices set to soar past record high this week

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Fuel pumps / Shutterstock

Metro Vancouver gas prices broke the all-time record high this week with some stations climbing above 164.9 cents per litre.

What’s more, analysts predict that prices will continue to climb this week and into the weekend.

Dan McTeague, a Senior Petroleum Analyst with GasBuddy.com, tweeted about the rising prices on Wednesday, noting that prices would rise day by day.

McTeague stated that residents of the Lower Mainland could expect a 1 cent rise at the pumps on Thursday, April 11, which would bring the price to 165.9 cents per litre.

Following this, however, he notes that prices will continue to climb on Friday, April 12. In fact, he expects they could rise by 3 cents per litre on Friday, which would bring the prices up to 168.9 cents per litre.

Vancouver Gas Prices

On Monday, April 1, British Columbia’s long-standing carbon tax increased to $40 a ton, which is double the federal carbon tax introduced in Saskatchewan, Manitoba, Ontario and New Brunswick — provinces that did not previously have any carbon tax in place.

That adds another 1.2 cents per litre at the pump, McTeague said.

The previous record high was broken in October, with a number of Lower Mainland stations showing as high as $163.9 cents per litre.

With files from the Canadian Press.